Ecopetrol (NYSE:EC) Reaches New 12-Month High – Should You Buy?

Ecopetrol S.A. (NYSE:EC)’s share price reached a new 52-week high during trading on Tuesday . The company traded as high as $13.12 and last traded at $13.2150, with a volume of 734692 shares trading hands. The stock had previously closed at $12.68.

Analyst Ratings Changes

Several research firms recently commented on EC. Weiss Ratings raised Ecopetrol from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, January 13th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $8.70 price objective on shares of Ecopetrol in a research note on Monday, December 1st. Finally, Zacks Research raised Ecopetrol from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 4th. One equities research analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Ecopetrol currently has a consensus rating of “Hold” and an average target price of $10.73.

Ecopetrol Trading Up 2.2%

The company has a debt-to-equity ratio of 0.95, a current ratio of 1.53 and a quick ratio of 1.26. The company’s 50 day moving average is $10.41 and its two-hundred day moving average is $9.56. The firm has a market cap of $26.65 billion, a P/E ratio of 10.91 and a beta of 0.65.

Institutional Investors Weigh In On Ecopetrol

Several large investors have recently bought and sold shares of EC. Stokes Family Office LLC boosted its holdings in shares of Ecopetrol by 25.2% in the 2nd quarter. Stokes Family Office LLC now owns 212,808 shares of the oil and gas company’s stock valued at $1,883,000 after buying an additional 42,819 shares during the last quarter. Oaktree Capital Management LP raised its holdings in Ecopetrol by 12.3% in the 2nd quarter. Oaktree Capital Management LP now owns 3,549,822 shares of the oil and gas company’s stock valued at $31,416,000 after acquiring an additional 387,700 shares in the last quarter. Capital Fund Management S.A. raised its position in shares of Ecopetrol by 529.6% in the 2nd quarter. Capital Fund Management S.A. now owns 165,697 shares of the oil and gas company’s stock valued at $1,466,000 after buying an additional 139,381 shares in the last quarter. Allianz Asset Management GmbH bought a new position in shares of Ecopetrol in the 2nd quarter valued at $3,997,000. Finally, Y Intercept Hong Kong Ltd bought a new position in Ecopetrol in the 2nd quarter valued at approximately $2,236,000.

About Ecopetrol

Ecopetrol SA (NYSE: EC) is Colombia’s state-controlled integrated oil and gas company and the country’s largest oil producer. The company’s operations span the upstream, midstream and downstream segments of the hydrocarbon value chain, including exploration and production of crude oil and natural gas, refining of petroleum products, transportation and storage via pipeline networks, and the marketing and sale of fuels and petrochemical feedstocks. Ecopetrol serves domestic demand in Colombia and maintains a portfolio of international investments and partnerships across the Americas.

In upstream activities, Ecopetrol focuses on exploration and development of onshore and offshore fields to sustain and grow hydrocarbon production.